Company Name: AMG Vanadium
Location: Washington Township
Industry Sector: Energy & Chemicals
Company Profile: AMG Vanadium is a global critical materials company at the forefront of CO2 reduction trends. AMG Vanadium produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals and chemicals end markets.
Company Website: https://amg-v.com/
- Type of Project: New Location
- Number of Jobs:
- Jobs committed: 102
- Capital Investment: $200,652,178
- Timetable: Groundbreaking on the new plant will be on August 8, 2019. The first phase of construction is expected to be completed in the second half of 2020, focusing on a raw material storage building and a multiple-hearth roaster. Overall project completion is expected in 2021.
Vanadium is a ferroalloy made from oil refinery byproducts and used in steel making, and Ohio-based AMG Vanadium is the only vanadium producer in North America. The company is also the world’s leading provider of resid spent catalyst recycling and metal reclamation services.
The company has successfully operated in Cambridge, Ohio, since 1952 and needed a new facility in order maintain its industry-leading position. AMG Vanadium sought to build a second roasting and ferroalloy production facility that would enable the company to respond to growing demand from the global refining and steel industries.
AMG Vanadium will construct a new facility in Washington Township that will be similar to the company’s existing plant. The site has been chosen as the preferred location for the project due to its proximity to AMG Vanadium’s current facility, allowing the company to more cost-effectively oversee both operations. Southeast Ohio is also a prime region for energy investment and a large contributor to why Ohio is an energy powerhouse.
More than 100 new permanent production and management jobs are expected to be created, in addition to 500 to 600 temporary jobs during construction. The company expects this new facility will nearly double its capacity to process spent catalyst. Finance of the plant is made possible with the proceeds from the sale of up to $350 million tax exempt bonds to be issued by the Ohio Air Quality Development Authority.
The community of Washington Township plans to maintain a healthy, mutually beneficial relationship with the company. AMG Vanadium has a record of exceptional environmental stewardship and compliance, using a process that produces no wastewater, the industry’s lowest overall emissions and the industry’s highest conversion rate to saleable products.
“We are excited to double our presence — and our production — in southeast Ohio. By expanding within the vicinity of our existing headquarters in Cambridge, we will be able to capitalize on the synergies between the two plants and continue to tap into the talent and work ethic of the people of this region. We are moving forward on this project thanks to the support we have received from the state of Ohio, Muskingum and Guernsey counties, and all of our public and private sector partners.” – Hoy E. Frakes Jr., president, AMG Vanadium (source)
Zanesville-Muskingum County Port Authority, APEG, Ohio Air Quality Development Authority, Ohio Development Services Agency and JobsOhio